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Procedural Formalities : The ECGC has three types of claim forms: (i) Form No.501 for claims rising due to non payment for goods accepted by the buyer, (ii)Form No.502 for claims arising because of the non-acceptance of goods/documents by the buyer, and (iii) Form No.503 for clinics on account of delay in transfer of funds to India. Claims due to the above causes should be filed in the respective prescribed forms. Other types of claims can be filed by means of a letter, giving full particulars of the cause and extent of loss. The claims have to be submitted to the ECGC office that issued the policy. Again, the claim forms should be sent through the bank which handled the export bill concerned. No claim will be entertained by the ECGC if it is not filed within a period of 24 months from the due date of the concerned bills.
Prescribed Manner : The manners in which the export proceeds are to be realised include: i) Payment should be received through an authorised dealer except in cases where genera
INTRODUCTION : You have learnt various provisions of Exchange Regulations . Export financing is another important area of export business. Export finance refers to the credit f
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Distinction between Domestic Sales Contract and Export Sales Contract : A major point of distinction between a domestic and export contract lies in identifying the prope
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